Summary
Honeywell International Inc. (HON) announced on December 28, 2017, the commencement of an exchange offer for its outstanding 3.812% Notes due 2047. This exchange offer allows holders of unregistered notes to swap them for an equal principal amount of identical notes that have been registered under the Securities Act of 1933. The purpose of this offer is to bring previously unregistered debt into compliance with securities regulations, which can improve liquidity and marketability. The exchange offer is set to begin on December 28, 2017, and will conclude on January 29, 2018. Investors holding the unregistered 2047 notes should consider participating in this exchange to ensure their holdings are freely tradable. The company's press release, attached as an exhibit to the 8-K filing, provides further details on the terms and process of the exchange.
Key Highlights
- 1Honeywell launched an exchange offer for its 3.812% Notes due 2047.
- 2The offer is for unregistered notes to be exchanged for registered notes of the same series and maturity.
- 3The goal is to register the outstanding debt, potentially improving its marketability.
- 4The exchange offer commenced on December 28, 2017.
- 5The offer is scheduled to expire on January 29, 2018.
- 6This action is a routine regulatory compliance measure for outstanding debt.